re: abitrage math hooter kkwI didn't say that everyone holding...

re: abitrage math hooter kkw

I didn't say that everyone holding was just after the tullow shares, clearly there are some speculating on some upside from another bidder. But they are safe because they have the 2.02 floor.

No-one is going to leave a 2% profit (or more if Tullow shares go up further) on the table at the end of the day, especially the big players. This is a classic arbitrage play with the potential for some surprise upside and so farthat is what is driving the share price.

I maintain that the Tullow share offer will be fully subscribed and we are unlikely to get much more than the 40%